- Move designed to build & nurture partnerships to further accelerate Innoviti's revenue expansion plans
BENGALURU, India, June 10, 2021 /PRNewswire/ --
Innoviti, a leading provider of smart payment solutions announced a top-deck appointment of Prasad Sonavane as Chief Revenue Officer - Partner Ecosystem Development.
An alumnus of Jamnalal Bajaj Institute of Management Studies, Mr. Sonavane comes with 25 years' experience as an accomplished Sales, Marketing, Partnerships & Alliances business leader in a variety of businesses including payment networks, information sales, FMCG.
In his last assignment, he was heading the Risk Management Solutions & Data Monetization verticals at Dun & Bradstreet. Prior to that, Mr. Sonavane was associated with American Express where he held various leadership roles in merchant acquiring, strategic alliances, consumer card issuing, and corporate card lending businesses. Prior to that, he has worked with other leading brands like Asian Paints, Titan & Lintas.
Mr. Sonavane will be heading Innoviti's Partner Ecosystem wherein he will drive the company's growth and profitability by forging partnerships and alliances to help our enterprise and retail businesses scale up and strengthen our market position while creating value for our bank and brand partners.
Bringing onboard senior talent like Mr. Sonavane reaffirms Innoviti's focus on strengthening and rapidly scaling up its partnerships with banks and category-specific brands that would help us with exponential business growth.
Innoviti uses payment technology in unconventional ways to turn payment transactions into customer acquisition and retention tools for merchants, bank, and brands, by bringing them on to a common platform, and helping them deliver unique customer experiences, such as this one. Each business gets access to 3X loyal consumers at 1/3rd the cost, accelerating sales with unmatched efficiencies.
Innoviti had raised a Series C in 2020 to further its differentiated strategy of servicing the retail market through category and segment-specific products.
"Partnerships & Alliances will play a pivotal role in implementing our growth strategy and we are delighted to have Prasad onboard to own this mandate. Prasad's expertise and vast knowledge will help enhance the value for all our bank and brand partners. His deep experience in building and nurturing partnerships will be an asset that blends well with Innoviti's vision using technology to help merchants large and small get an equal opportunity to fuel their growth." - said Ms. Amrita Malik, Co-Founder & Chief Business Officer - New Business Initiatives, Innoviti.
"It is an honor and a matter of pride to be joining the leadership team of Innoviti. The company leads the way in using technology to set new benchmarks for how retail businesses can seamlessly and cost-effectively leverage their payment acceptance processing infrastructure into genuine drivers of business growth. I am thrilled to be joining the company at its inflection point of growth and transformation and I am committed to building and delivering on our vision." - said Mr. Prasad Sonavane, Chief Revenue Officer, Partner Ecosystem Development, Innoviti.
About Innoviti Payment Solutions Pvt. Ltd., Bangalore, India.
Innoviti Payment Solutions Pvt. Ltd. has been a pioneer in using payment technology to help businesses extract better value from retail transactions than possible otherwise. The company processes over 10B$ of merchant payments from over 1000+ cities with a volume throughput per installation that is 2X of the country's average. Bessemer Venture Partners, USA, FMO, Netherlands, and Catamaran Ventures, India investors in the company. The company has several patents filed for with two awarded. Innoviti is the winner of Mastercard's Innovation Wizards Award, Reliance's Most Promising Growth Consumer Finance Award and Deloitte Fastest Growing Companies in Asia award in 2020. Innoviti is the only Indian payments SaaS company to be awarded the SOC3 seal of excellence for adherence to principles of trust in privacy, security, confidentiality, availability, and processing of transactions.